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The impact of added value of agriculture in Romania’s economy

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  • Anaida Iosif

Abstract

Agricultural production has an important role in economic growth, especially in case of emerging economies. The increase of the added value of agriculture in economy signifies additional income for the rural population, a vulnerable category within Romania, an increase of external trade, lower imports and higher exports and also an increase of demand from non-agricultural sectors, as the financial situation of farmers improve. The research was performed in order to provide empirical information regarding the relationship between the Romanian agricultural added value and the macroeconomic variables: FX rate, real GDP, inflation and interest rate. The source of the time series data have been EUROSTAT and World Bank. The analyses has been performed using the unit root tests: ADF (Augmented Dickey-Fuller), PP (Phillips-Perron) and KPSS (Kwiatkowski–Phillips–Schmidt–Shin) and the cointegration test Johansen and Engle-Granger.

Suggested Citation

  • Anaida Iosif, 2015. "The impact of added value of agriculture in Romania’s economy," International Conference on Competitiveness of Agro-food and Environmental Economy Proceedings, The Bucharest University of Economic Studies, vol. 4, pages 266-272.
    • Handle: RePEc:aes:icafee:v:4:y:2015:p:266-272
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